Trading Firm Virtu Hires J.P. Morgan Banker as CFO

Virtu Financial LLC, one of the largest electronic trading groups in the U.S., hired an investment banker from J.P. Morgan Chase & Co. as its new chief financial officer, people familiar with the matter said.

Joseph Molluso, a managing director who focused on financial services companies since joining J.P. Morgan in 2006, is expected to join New York-based Virtu in November, one of the people said.

The move comes as Virtu in recent years has bulk up and taken on a higher-profile role in U.S. and overseas markets. The firm has expanded through several mergers and staked out space on the trading floor of the New York Stock Exchange.

Mr. Molluso fills a gap left by Jordan Toplitzky, who served as Virtu’s CFO for about a year-and-a-half before leaving the firm early this year. A spokeswoman for JP Morgan on Monday confirmed Mr. Molluso’s departure to join Virtu.